BUZZ-Cognizant gains after doubling stock buyback plan on AI opportunity

Cognizant Technology Solutions Corporation Class A

Cognizant Technology Solutions Corporation Class A

CTSH

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** IT consulting firm Cognizant's CTSH.O shares rise 1.7% to $47.93 premarket

** CTSH says it is raising its 2026 share repurchase target by $1 billion to a total of $2 billion

** Adds that the additional $1 billion in share repurchases are expected to be completed during the second quarter of 2026

** "Our plan to increase the amount of share repurchases reflects our strong conviction in the long-term opportunity AI creates and our critical role in it as an AI builder," CEO Ravi Kumar S says in a statement

** Up to last close, stock down ~43% this year


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